- 18 -
acceptance letter did any IRS representative inform Mr. Nolan, Mr.
Janow, or Ms. Kaplan that respondent's settlement offer to the
Arbitrage Management partners excluded petitioner.
IV. Discussion
The main issue we must herein determine is whether the
settlement terms were intended to apply to Arbitrage Management
transactions for petitioners' 1979 through 1983 tax years.
Rule 121 provides for summary judgment on legal issues in
controversies where there is no genuine issue of material fact.
Commercial Union Ins. Co. v. McKinnon, 10 F.3d 1352, 1354 (8th Cir.
1993); Sundstrand Corp. & Consol. Subs. v. Commissioner, 98 T.C.
518, 520 (1992), affd. 17 F.3d 965 (7th Cir. 1994); Naftel v.
Commissioner, 85 T.C. 527, 528-529 (1985); Jacklin v. Commissioner,
79 T.C. 340, 344 (1982). A fact is material if it "'tends to
resolve any of the issues that have been properly raised by the
parties.'" Boyd Gaming Corp. v. Commissioner, 106 T.C. 343, 347
(1996) (quoting 10A Wright et al., Federal Practice and Procedure:
Civil, sec. 2725, at 93 (2d ed. 1983)). Partial summary judgment
that does not dispose of all issues may be sought and granted.
Elkins v. Commissioner, 81 T.C. 669, 674 (1983). The burden is on
the moving party to show that it is entitled to summary judgment and
that the matter may be decided on the basis of the evidence before
this Court. Espinoza v. Commissioner, 78 T.C. 412, 416 (1982);
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